Victory Capital Management Inc. Acquires 7,753 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Key Points

• Victory Capital Management Inc. increased its stock position in Jones Lang LaSalle by 33.3%, owning 31,047 shares valued at approximately $7.70 million as of the end of the first quarter.
• Several institutional investors also made significant changes to their holdings in Jones Lang LaSalle, with overall institutional ownership at 94.80%.
• Jones Lang LaSalle's stock received multiple upgrades from analysts recently, with adjusted price targets ranging from $297.00 to $340.00, resulting in a general rating of "Moderate Buy."

Victory Capital Management Inc. boosted its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 33.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,047 shares of the financial services provider's stock after acquiring an additional 7,753 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Jones Lang LaSalle worth $7,697,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in JLL. EdgePoint Investment Group Inc. increased its position in shares of Jones Lang LaSalle by 5.7% during the 4th quarter. EdgePoint Investment Group Inc. now owns 1,639,526 shares of the financial services provider's stock valued at $415,030,000 after purchasing an additional 88,479 shares during the last quarter. Invesco Ltd. increased its position in shares of Jones Lang LaSalle by 0.9% during the 4th quarter. Invesco Ltd. now owns 944,623 shares of the financial services provider's stock valued at $239,122,000 after purchasing an additional 8,274 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Jones Lang LaSalle by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 934,958 shares of the financial services provider's stock valued at $240,190,000 after acquiring an additional 41,331 shares during the period. Norges Bank purchased a new stake in Jones Lang LaSalle during the 4th quarter valued at about $149,468,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Jones Lang LaSalle by 13.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 542,675 shares of the financial services provider's stock valued at $137,373,000 after acquiring an additional 65,407 shares during the period. 94.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on JLL shares. JMP Securities started coverage on Jones Lang LaSalle in a report on Monday, July 21st. They set a "market perform" rating for the company. Citizens Jmp assumed coverage on Jones Lang LaSalle in a report on Monday, July 21st. They issued a "market perform" rating for the company. Citigroup dropped their price objective on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. JPMorgan Chase & Co. decreased their target price on Jones Lang LaSalle from $327.00 to $285.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, UBS Group increased their target price on Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $312.43.

Insiders Place Their Bets

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $237.97, for a total transaction of $65,441.75. Following the sale, the chief executive officer directly owned 10,297 shares of the company's stock, valued at $2,450,377.09. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.91% of the stock is owned by insiders.

Jones Lang LaSalle Stock Performance

NYSE JLL traded up $17.75 on Tuesday, hitting $280.41. 189,672 shares of the company traded hands, compared to its average volume of 392,436. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 25.31 and a beta of 1.34. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.17. The business's 50 day moving average price is $242.91 and its 200-day moving average price is $246.83. Jones Lang LaSalle Incorporated has a 52-week low of $194.36 and a 52-week high of $288.50.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.02 by $0.29. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.65 billion. Jones Lang LaSalle had a return on equity of 10.37% and a net margin of 2.23%. The business's revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share. Equities analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.